Seniors Housing sale handled by Brad Clousing of Senior Living Investment Brokerage, Inc. in Alabama. The transaction consisted of three Assisted Living and Independent Living Communities located in Auburn, Alabama. All three assets are purpose built and benefit from close proximity to each other as well as a total of 84 SCALF beds which are very difficult to acquire in Alabama. Azalea Place was built in 1999 and features 72 units. Camellia Place, also constructed in 1999, features 58 units and is licensed for 42 SCALF beds. Magnolia Place, constructed in 1996, features 53 units and is also licensed for 42 SCALF beds. The Seller, East Alabama Medical Center (EAMC), was looking to exit the assisted living market in order to focus on core operations. The Buyer is a partnership between a national equity investor and an Alabama based operator. They intend on making a significant investment into the physical plants at each location. The assets will be re-branded and re-positioned in the market. Additionally, there will be a heavy focus on programming and staffing efficiencies. The three Assisted Living Portfolio totaled 183 beds and sold for $16,531,500. The overall census was 85% and the Gross Income Multiple was 2.8X. For additional information on this seniors housing sale or on how Senior Living Investment Brokerage, Inc. can assist you with a purchase or sale, contact Brad Clousing at clousing@slibinc.com or 630/858-2501.
